LKO.ASX: Wombat-5 Well, Gippsland Basin, Victoria, Drilling Update

Wombat-5 Well, Gippsland Basin, Victoria, Drilling Update

Stock	LKO.ASX (LKO.ASX)
Release Time	3 Sep 2025, 9:11 a.m.
Price Sensitive	Yes

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Wombat-5 Well Drilling Update, Gippsland Basin

Key Points

Drilling operations ongoing at Wombat-5 well, side-track-2 (ST-2) in Gippsland Basin, Victoria
Current depth at 1,394 mRT, targeting Strzelecki Formation reservoir
Expecting to encounter top of Strzelecki Formation in next 20 metres of drilling

Full Summary

The Board of Lakes Blue Energy has provided an update on the drilling operations at the Wombat-5 well, side-track-2 (ST-2) in the Gippsland Basin, Victoria. As of 8:00 am AEST today, the well has reached a depth of 1,394 mRT (measured depth) after 33 days of drilling. The contractor is currently running back to the bottom of the hole with the 8-1/2' directional bottom-hole assembly (BHA) to recommence drilling towards the 7' casing point at approximately 1,530 mRT (MD), while building the inclination to 88°. The surface fluid volume has been restored and conditioned in preparation for drilling into the Strzelecki Formation reservoir. The top of the Strzelecki Formation is expected to be encountered in the next 20 metres of drilling, and the 7' casing set point is anticipated to be reached in around 150 metres. The company has not reported any lost-time injuries (LTIs) during the drilling operations so far.